BADGER EXPLORER ASA – SUCCESSFUL GROUND-BREAKING DEMONSTRATION OF THE CONCEPT

Badger Explorer ASA is pleased to announce the successful demonstration of the Badger Explorer concept at the test site in eastern Norway. The Badger Explorer’s successful closed cavity drilling is the world’s first operation of its kind and BXPL acknowledges it as ground-breaking. This success is considered to be the proof of the Badger Explorer concept as well as a concluding step of the Company’s prototype phase. The Badger Explorer development program is now entering the pre-commercial phase. During this test the Badger Explorer prototype operated for an extended period of time. The tool drilled several meters, the cuttings were transported and separated inside the tool and then compacted at the rear end of the tool, forming a plug whilst operating in a closed cavity. The tool was being powered and controlled through a cable and not visible whilst drilling. “I am very proud to announce this technological breakthrough. The Badger Explorer idea was born in 1999 and since then comprehensive R&D work, design and testing by an excellent and skilled team has taken place. While recognizing that much R&D work remains before a commercial version will be ready, we will now enter the pre-commercial phase consisting of designing and developing the first commercial versions of the Badger Explorer”, says Badger Explorer ASA’s President & CEO Kjell Erik Drevdal. The test has revealed that some functions have to be adjusted and redesigned to increase the operational reliability of the current prototype. Furthermore, as expected, some functions of the tool will undergo a more fundamental redesign. One of the challenges of the successful test has been the durability of the circulation pump. Work has commenced to build a more reliable version of the same. When completed it will be installed in the tool for the use in future tests. The Badger Explorer drilling tool has the potential to revolutionize the exploration for oil and gas resources. The efforts undertaken by Badger Explorer ASA, in particular during the concept proving test, are groundbreaking. While the development work ahead is expected to be challenging and time-consuming, the Company is now ready to embark on this next phase with great enthusiasm and optimism. The Company will present its 1Q 2010 report as well as a project update on 30 April at 09:00 at Hotel Continental in Oslo and on the same day at 15:00 at the Company's offices in Stavanger. Stavanger, 28 April 2010 For further information, please contact: Kjell Erik Drevdal, CEO, cell phone + 47 916 43 552, office + 47 52 97 45 15 Gunnar Dolven, CFO, cell phone + 47 908 53 168, office + 47 52 97 45 40 www.bxpl.com

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